Pages

Thursday, January 12, 2017

Mexico’s solution to Trump’s tweets? Buy Twitter and shut it down

There’s a strange idea circulating among Mexican currency traders. Well, more of a joke really. But there’s a certain logic to it.

It goes like this: Instead of spending its precious reserves to defend the peso, Mexico should just buy Twitter Inc. — at a cost of about $ 12 billion — and immediately shut it down. The notion made the rounds this week after the central bank revealed it had already blown through $ 2 billion of reserves in a largely futile effort to shield the peso from a steady stream of anti-Mexico Tweets from Donald Trump.